Osbon Capital Management LLC Purchases Shares of 7,751 Sphere Entertainment Co. $SPHR

Osbon Capital Management LLC purchased a new position in Sphere Entertainment Co. (NYSE:SPHR) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 7,751 shares of the company’s stock, valued at approximately $737,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Corient Private Wealth LLC purchased a new stake in shares of Sphere Entertainment during the fourth quarter worth about $984,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Sphere Entertainment by 93.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 570 shares of the company’s stock worth $54,000 after purchasing an additional 276 shares during the last quarter. Virtu Financial LLC purchased a new position in Sphere Entertainment during the 4th quarter valued at about $399,000. Invesco Ltd. increased its holdings in Sphere Entertainment by 125.3% during the 4th quarter. Invesco Ltd. now owns 191,494 shares of the company’s stock valued at $18,207,000 after purchasing an additional 106,484 shares during the period. Finally, Creek Drive Management Group LLC bought a new position in Sphere Entertainment during the 4th quarter valued at approximately $7,559,000. 92.03% of the stock is owned by institutional investors.

Sphere Entertainment Stock Performance

Shares of SPHR opened at $157.68 on Friday. The company has a 50-day simple moving average of $137.52 and a two-hundred day simple moving average of $114.47. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $5.60 billion, a PE ratio of 88.59 and a beta of 1.64. Sphere Entertainment Co. has a one year low of $37.89 and a one year high of $160.36.

Sphere Entertainment (NYSE:SPHR) last posted its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.27. Sphere Entertainment had a negative return on equity of 5.07% and a net margin of 8.05%.The firm had revenue of $386.41 million for the quarter, compared to the consensus estimate of $313.41 million. During the same quarter in the prior year, the business earned ($2.27) EPS. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. On average, analysts anticipate that Sphere Entertainment Co. will post -2.44 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Citizens Jmp increased their price objective on Sphere Entertainment from $175.00 to $200.00 and gave the stock a “market outperform” rating in a report on Wednesday. Susquehanna upped their target price on Sphere Entertainment from $159.00 to $182.00 and gave the company a “positive” rating in a report on Thursday. Citigroup reaffirmed a “market outperform” rating on shares of Sphere Entertainment in a research note on Wednesday. Weiss Ratings upgraded shares of Sphere Entertainment from a “sell (d-)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Sphere Entertainment from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.15.

Sphere Entertainment Profile

Sphere Entertainment Co (NYSE: SPHR) is a publicly traded company focused on the development and operation of large-scale immersive entertainment venues. Established as a standalone entity in early 2023 following its separation from Madison Square Garden Entertainment, Sphere leverages cutting-edge audiovisual technologies to create next-generation concert, film and cultural experiences. The company’s flagship venue in Las Vegas showcases its core capabilities, while additional projects are in various stages of development around the world.

At the Las Vegas Sphere, Sphere Entertainment has installed one of the largest LED display surfaces on the planet, wrapping audiences in 16K resolution imagery and spatial audio powered by proprietary sound systems.